Unbankable
Unbankable refers to an individual or entity that is considered high-risk or unworthy of being approved for a bank account or loans due to factors like poor credit history, unstable income, or other financial behaviors that might indicate unreliability. It can also pertain to ideas or projects that are deemed too risky for traditional financing.
Unbankable meaning with examples
- After reviewing his credit report, the bank informed him that he was deemed unbankable, leaving him with limited options for managing his finances and securing loans.
- Investors often avoid unbankable projects, as the high level of risk means the potential for loss outweighs any possible returns in the volatile market environment.
- She discovered that her entrepreneurial ideas were classified as unbankable, prompting her to seek alternative funding sources such as crowdfunding or angel investors.
- The economic downturn has left many small businesses unbankable as their revenues plummeted, making it hard for them to sustain operations or obtain financing.
- Being unbankable can have long-lasting effects on an individual's financial stability, often leading to decreased opportunities for property ownership and wealth accumulation.